Pensacola ltd uses perputual inventory in connection with FIFO costing. The company began the year with zero balance. They had the following transactions during the year.

1 jan. purchased 50 units at $4.00 per unit

5 jan. purchased 100 units at $4.10 per unit

7 jan. Sold 80 units at $12 per unit

15 jan purchased 60 units at $3.20 per unit

30 jan. Sold 75 units at a price of $12.75 per unit

At the end of the year, they counted the inventory and found 50 units remaining. Is thos correct? If incorrect, what is the correct number of units remaining in inventory? How much was the cost sales of the year?